Hims & Hers Health (NYSE:HIMS) Stock Price Up 6.6% After Analyst Upgrade

Hims & Hers Health, Inc. (NYSE:HIMS)’s stock price was up 6.6% during mid-day trading on Tuesday after Canaccord Genuity Group raised their price target on the stock from $28.00 to $38.00. Canaccord Genuity Group currently has a buy rating on the stock. Hims & Hers Health traded as high as $33.24 and last traded at $32.88. Approximately 1,975,003 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 9,794,257 shares. The stock had previously closed at $30.85.

A number of other research firms have also weighed in on HIMS. Deutsche Bank Aktiengesellschaft raised their price objective on Hims & Hers Health from $23.00 to $27.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Imperial Capital lowered shares of Hims & Hers Health from an “outperform” rating to an “in-line” rating in a research note on Friday, August 9th. Bank of America downgraded shares of Hims & Hers Health from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $32.00 to $18.00 in a research note on Thursday, November 14th. Needham & Company LLC assumed coverage on shares of Hims & Hers Health in a report on Thursday, August 22nd. They issued a “buy” rating and a $24.00 price objective for the company. Finally, TD Cowen reiterated a “buy” rating and set a $28.00 target price on shares of Hims & Hers Health in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.43.

Insider Buying and Selling at Hims & Hers Health

In related news, CFO Oluyemi Okupe sold 142,886 shares of Hims & Hers Health stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $29.93, for a total transaction of $4,276,577.98. Following the transaction, the chief financial officer now owns 112,186 shares in the company, valued at approximately $3,357,726.98. The trade was a 56.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Melissa Baird sold 11,749 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $14.65, for a total transaction of $172,122.85. Following the completion of the transaction, the chief operating officer now directly owns 585,800 shares of the company’s stock, valued at $8,581,970. This represents a 1.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 950,677 shares of company stock valued at $21,532,666. Insiders own 17.71% of the company’s stock.

Hedge Funds Weigh In On Hims & Hers Health

A number of hedge funds have recently made changes to their positions in HIMS. Nisa Investment Advisors LLC lifted its holdings in Hims & Hers Health by 679.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,839 shares of the company’s stock worth $37,000 after purchasing an additional 1,603 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Hims & Hers Health by 5,944.1% in the second quarter. Quest Partners LLC now owns 3,566 shares of the company’s stock worth $72,000 after buying an additional 3,507 shares in the last quarter. CWM LLC boosted its position in shares of Hims & Hers Health by 21.4% during the third quarter. CWM LLC now owns 5,982 shares of the company’s stock worth $110,000 after acquiring an additional 1,054 shares during the last quarter. Van ECK Associates Corp purchased a new position in Hims & Hers Health during the second quarter valued at $111,000. Finally, Quarry LP increased its holdings in Hims & Hers Health by 91.0% in the 3rd quarter. Quarry LP now owns 6,113 shares of the company’s stock valued at $113,000 after acquiring an additional 2,913 shares during the last quarter. Institutional investors own 63.52% of the company’s stock.

Hims & Hers Health Trading Up 7.1 %

The firm has a market cap of $7.22 billion, a PE ratio of 74.73 and a beta of 1.24. The firm’s 50 day simple moving average is $22.01 and its 200 day simple moving average is $19.94.

Hims & Hers Health (NYSE:HIMS) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.26. The company had revenue of $401.56 million during the quarter, compared to analyst estimates of $382.20 million. Hims & Hers Health had a return on equity of 10.97% and a net margin of 8.19%. The firm’s revenue was up 77.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) earnings per share. As a group, equities research analysts predict that Hims & Hers Health, Inc. will post 0.29 earnings per share for the current fiscal year.

Hims & Hers Health Company Profile

Hims & Hers Health, Inc operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally. The company offers a range of curated prescription and non-prescription health and wellness products and services available to purchase on its websites and mobile application directly by customers.